Once Narmi Lend for credit card loans is enabled at your institution, applicants can access the following flow from a website or Narmi Banking.
If your institution offers more than one loan type, the applicant will see the welcome page. If the applicant accesses Narmi Lend via a direct link or if your institution offers only credit card loans, the flow begins at step 2.
Your institution can customize all welcome page text by contacting your Narmi Relationship Manager. To customize the logo, go to Narmi Command under Institution settings > Lending Welcome Screen Logo. Please ensure the logo uploaded is completely white with a transparent background.
Select Credit card.
If the applicant enters Narmi Lend via a direct link (e.g., by clicking a credit card promotion) or if your institution offers only credit card loans, they'll skip the welcome screen and start at your institution’s available credit card offerings.
Your institution can customize where the applicant is directed when they select the logo on the top left. To do this, go to Narmi Command under Institution settings > Lending Website Flow Logo Navigation URL.If there are multiple card offers, the applicant selects Get started on the desired option.
If your institution has only one card offering, the applicant is prompted to enter their email address and select Get started.
A page appears to enter personal details. All fields are required to proceed. Your institution can configure the minimum age for lending applicants in Narmi Command under Institution settings. There are two possible settings: Lending Minimum Applicant Age or Lending Minimum Applicant Birth Year. If both are set and the applicant does not meet either setting, the application is stopped.
When the applicant selects Next, the application moves into the “Creating” status. For more information on statuses, go to Loan Application Statuses.
A page appears to enter a residential address and select Next.
Next, the applicant enters their employment and income, both of which are required to proceed. The options for Employment type include Employed, Self-employed, Retired, and Other. When the applicant enters their Annual income, the Monthly income field calculates automatically to assist the applicant in entering the correct amount. Note: The applicant can enter $0 for annual income.
Review disclosures and check the acknowledgment box. Your institution can customize these disclosures via Narmi Command under Institution settings > Lending Disclosures. The setting applies to both credit card loans and personal loans. An info banner at the bottom of the page indicates that the prequalification is a soft pull that won’t impact the applicant’s credit score.
Select See my offer.
Alloy conducts the soft credit pull and performs the underwriting rules that your institution has set up in Alloy, returning the rate and terms. Once we receive Alloy's response, the offer appears. If the applicant enters “Manual Review” or “Rejected” status (depending on how your institution has configured your underwriting outcomes), the applicant will not see the offer page and will instead be directed to step 8.
Once the applicant selects Accept offer, they receive an email confirming their acceptance. Configure this email in Narmi Command under Institution settings > Credit Card Offer Accepted Template.
A submitted page appears. The text on this page can be customized by contacting support@narmi.com.
Upon submission, the loan application is written to the LOS (Loan Origination System). We currently support either Symitar ELA or Corelation Keystone. All additional steps are taken manually by the staff member within the LOS. When the loan is ready to be booked to the core, the staff member must complete that within the LOS. We do not write the loan to the core in our current implementation.
